Total: 14 points out of 32

6 points for a strong exclusion of coal mining projects: ABN AMRO prohibits direct finance for the acquisition or building of thermal coal mines, and mountaintop removal (MTR) coal mines.

8 points for a strong exclusion threshold for coal mining companies: ABN AMRO prohibits financing for companies with greater than 25% revenue from thermal coal mining.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 8.5 points out of 32

4 points for a moderate exclusion of coal mining projects: ANZ will not directly finance any new thermal coal mines, or expansions.

1.5 points for the commitment to reduce exposure to coal mining companies: ANZ will limit finance to existing customers who have more than 50% thermal coal exposure if they do not have a diversification strategy by 2025, and the bank will reduce their exposure over time. By 2030, the exposure threshold for companies will be reduced to 25%. 

3 points for a weak exclusion threshold for coal mining companies: ANZ prohibits lending to new coal mining clients with material thermal coal exposures, meaning more than 10%.

See: Banking on Climate Change - policy scores

Total: 2 points out of 32

1.5 points for the commitment to reduce exposure to coal mining companies: In 2015, Bank of America has committed to reduce credit exposure "globally to companies focused on coal extraction and to divisions of diversified mining companies that are focused on coal." Now, Bank of America only states that "going forward, we will maintain our significantly reduced credit exposure to these companies."

0.5 point for enhanced due diligence regading coal mining companies: Bank of America conducts enhanced due diligence for companies involved in coal mining.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 8 points out of 32

2 points for a weak exclusion of coal mining projects: Barclays prohibits financing for greenfield coal mines and mountaintop-removal coal mines.

3 points for the commitment to reduce finance to coal mining companies: From 2020 onwards, Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation); By 2025, Barclays will no longer provide any financing to clients that generate more than 30% of revenue from thermal coal activities; By 2030, Barclays will no longer provide any financing to clients that generate more than 10% of revenue from thermal coal activities.

3 points for a weak exclusion threshold regarding coal mining companies: Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation).

See: Banking on Climate Change - policy scores

Total: 7 points out of 32

2 points for a weak exclusion of coal mining projects: BBVA prohibits direct financing for new coal mines and coal mine expansions, including mountaintop removal (MTR) mines, but allows exceptions for countries with high levels of imported energy.

5 points for a moderate exclusion threshold for coal mining companies: BBVA prohibits financing for companies that get more than 40% of their revenue from coal mining, but allows exceptions for countries with high levels of imported energy.

See: Banking on Climate Change - policy scores

Total: 30 points out of 32

6 points for a strong exclusion of coal mining projects: BNP Paribas prohibits financing for thermal coal mining projects.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): BNP Paribas does not provide any financial products or services to companies that develop or are planning to develop thermal coal extraction capacities (new mines or expansion of existing ones).

8 points for a strong phase-out commitment regarding coal mining companies: BNP Paribas does not provide any financial products or services for mining companies that do not have a strategy to exit from thermal coal activities by 2030 for European Union and OECD countries and 2040 for the rest of the world.

8 points for a strong exclusion threshold regarding coal mining companies: BNP Paribas will not provide any financial products or services to mining entities that are producers of coal extracted from Appalachian MTR operation; and to mining entities and that do not have a strategy to exit from thermal coal activities by 2030 for EU and OECD countries and 2040 for the rest of the world. The bank will not finance mining entities that belong to groups that produce more than 10 million tons of thermal coal per year or generate more than 20% of their revenues from thermal coal.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 0.5 point out of 32

0.5 point for a mountaintop removal (MTR) mine exclusion: CIBC will limit support for practices such as mountaintop removal mining of thermal coal.

See: Banking on Climate Change - policy scores

Total: 9.5 points out of 32

6 points for a strong exclusion of coal mining projects: Citigroup provides no project-related financing for new thermal coal mines or expansions of existing mines.

3 points for the commitment to reduce financing for coal mining companies: Citigroup has commited to phase out financing for companies deriving ≥25% of their revenue from thermal coal mining by 2030, with interim targets.

0.5 point for enhanced due diligence regarding coal mining companies: Citi conducts corporate-level enhanced due diligence for the coal mining sector.

See: Banking on Climate Change - policy scores

Total: 7 points out of 32

4 points for a moderate exclusion of coal mining projects: Commerzbank prohibits direct finance for new coal mines and mountaintop removal (MTR) mines.

3 points for a weak exclusion threshold for coal mining companies: Commerzbank prohibits financing for all companies involved in mountaintop removal (MTR) coal mining.

See: Banking on Climate Change - policy scores

Total: 6 points out of 32

6 points for a moderate phase-out commitment regarding coal mining companies: Commonwealth Bank commits to reduce its exposure to thermal coal mining, with the view to exiting the sector by 2030.

See: Banking on Climate Change - policy scores

Total: 27 points out of 32

6 points for a strong exclusion of coal mining projects: Crédit Agricole prohibits any support to thermal coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): Crédit Agricole prohibits financing to coal mine developers starting in 2021.

8 points for a strong phase-out commitment regarding coal mining companies: Crédit Agricole has committed to a full-fledged coal phase-out by 2030 for EU and OECD countries and 2040 for China. It requires from its clients a coal phase-out plan aligned with theses dates to continue to receive financial support from the bank starting in 2021.

5 points for a moderate exclusion threshold for coal mining companies: Crédit Agricole prohibits financing to coal mining companies above 25% of revenues coming from coal if they don't have a coal phase-out plan by 2021.

See: Banking on Climate Change - policy scores

Total: 30 points out of 32

6 points for a strong exclusion of coal mining projects: Crédit Mutuel prohibits financing for greenfield or brownfield thermal coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): Crédit Mutuel prohibits financing for all coal mine developers.

8 points for a strong phase-out commitment regarding coal mining companies: Crédit Mutuel committed to a full coal phase-out by 2030. It requires its clients to have by 2021 a coal phase-out plan to close their coal assets by 2030 in order to continue to receive financial support from the bank.

8 points for a strong exclusion threshold for coal mining companies: Crédit Mutuel prohibits financing of companies with more than 20% of revenues from coal, or companies that produce more than 10 Mt of coal a year.

See: Banking on Climate Change - policy scores

Total: 7 points out of 32

2 points for a weak exclusion of coal mining projects: Credit Suisse prohibits direct finance for new greenfield thermal coal mines, and mountaintop removal (MTR) projects. 

5 points for a moderate exclusion threshold for coal mining companies: Credit Suisse will not provide finance or underwriting to mining companies that derive more than 25% of its revenue from thermal coal extraction. However, they make an exception for companies that have a credible transition strategy to diversify away from thermal coal and where the transaction proceeds make a material contribution to this transition. 

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 32

2 points for a weak exclusion of coal mining projects: DBS prohibits financing for greenfield thermal coal mines.

0.5 point for enhanced due diligence: DBS performs enhanced due diligence on coal mining companies by checking for a diversification strategy.

See: Banking on Climate Change - policy scores

Total: 8.5 points out of 32

2 points for a weak exclusion of coal mining projects: Deutsche Bank prohibits any financing for greenfield thermal coal mines.

6 points for a moderate phase-out commitment regarding coal mining companies: Deutsche Bank commits to phase out coal mining exposure by 2025 worldwide (including both lending and capital markets). This is a moderate commitment because the bank does not have intermediate exclusion criteria (around developers or dropping non-compliant clients).

0.5 point for enhanced due diligence regarding coal mining companies: Deutsche Bank prohibits financing for the biggest U.S. MTR coal miners. This qualifies as enhanced due diligence. The exclusion would have to be broadened, either to encompass all MTR coal miners, or some non-MTR coal miners, to qualify for a higher score.

See: Banking on Climate Change - policy scores

Total: 9.5 points out of 32

6 points for a strong exclusion of coal mining projects: Goldman Sachs's prohibition on financing for "new thermal coal mine development" covers both new mines and expansions of existing mines.

3 points for the commitment to reduce financing of coal mining companies: Goldman Sachs commits to "phase out our financing of thermal coal mining companies that do not have a diversification strategy within a reasonable timeframe." However this applies only to "significant" coal mining companies, and thus does not qualify as a weak phaseout, which must apply to most of the coal mining sector.

0.5 point for enhanced due diligence regarding coal mining companies: Goldman Sachs conducts enhanced due diligence "for transactions involving coal mining globally."

See: Banking on Climate Change - policy scores

Total: 8.5 points out of 32

4 points for a moderate exclusion of coal mining projects: HSBC prohibits financing for new thermal coal mines.

1.5 points for the commitment to reduce exposure to coal mining companies: HSBC has committed to reduce its exposure to thermal coal mining.

3 points for a weak exclusion threshold for coal mining companies: HSBC prohibits financing for new clients dependent on coal mining.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 13 points out of 32

4 points for a moderate exclusion of coal mining projects: ING prohibits financing for new thermal coal mines.

6 points for a moderate phase-out commitment regarding coal mining companies: ING has committed to phase out its financing for coal mining by 2025, but it does not exclude any coal developers.

3 points for a weak exclusion threshold for coal mining companies: ING excludes financing for companies above a 30% threshold involvement in coal mining, "provided our engagement does not facilitate the restricted activity itself." But the policy allows notable exceptions for application to existing clients.

See: Banking on Climate Change - policy scores

Total: 11 points out of 32

4 points for a moderate exclusion of coal mining projects: Intesa Sanpaolo will not provide finance for new coal mines. Expansion not mentioned in this policy. Intesa Sanpaolo also restricts project finance for the acquisition of companies already operating in the mining sector if this leads to mix of extracted raw materials where coal accounts for more than 50%.

4 points for a weak exclusion of companies expanding coal mining: Intesa Sanpaolo will not provide any new general purpose finance to companies engaged in the construction of new coal mines.

3 points for a weak exclusion threshold regarding coal mining companies: Intesa Sanpaolo will not provide any new general purpose finance to companies involved in coal mining operations using the Mountain Top Removal (MTR) techniques.

See: Banking on Climate Change - policy scores

Total: 8 points out of 32

2 points for a weak exclusion of coal mining projects: JPMorgan Chase prohibits financing for new greenfield coal mines only.

3 points for the commitment to reduce financing of coal mining companies: JPMorgan Chase has committed that by 2024, it will phase out its remaining credit exposure to companies deriving a majority of their revenue from coal mining. While this is a strong near-term deadline, it only applies to companies where over 50% of their revenue is derived from coal mining, and thus it does not qualify as a "weak phase-out" of the sector overall, but rather constitutes a reduction in financing for coal mining.

3 points for a weak exclusion threshold regarding coal mining companies: JPMorgan Chase prohibits "lending, capital markets or advisory services to companies deriving the majority of their revenues from the extraction of coal." If this revenue threshold were lower than 50%, this policy would be eligible for "moderate exclusion."

See: Banking on Climate Change - policy scores

Total: 1 point out of 32

0.5 point for a mountaintop removal (MTR) mine exclusion: MUFG prohibits financing for MTR coal mining projects.

0.5 point for enhanced due diligence regarding coal mining companies: MUFG conducts enhanced due diligence for coal mining companies.

See: Banking on Climate Change - policy scores

Total: 1 point out of 32

0.5 point for a mountaintop removal (MTR) mine exclusion: Mizuho will not provide financing or investment to coal mining projects employing the mountain top removal method.

0.5 point for enhanced due diligence regarding coal mining companies: Mizuho conducts enhanced due diligence for clients involved in coal mining.

See: Banking on Climate Change - policy scores

Total: 7.5 points out of 32

4 points for a moderate exclusion of coal mining projects: Morgan Stanley excludes direct finance for new coal mines. Expansion is not mentioned in this policy. Morgan Stanley will also not provide financing for mountain top removal coal mines.

3 points for the commitment to reduce financial exposure to coal mining companies: Morgan Stanley has pledged to phase out out financing of those thermal coal mining companies that do not have a diversification strategy within a reasonable timeframe. However this applies only to "significant" coal mining companies, and thus does not qualify as a weak phaseout, which must apply to most of the coal mining sector.

0.5 point for enhanced due diligence regarding coal mining companies: Morgan Stanley conducts enhanced due diligence for thermal coal mining companies. In addition, Morgan Stanley prohibits "financing for companies that rely on MTR for anything more than a limited portion of their annual coal production" as well as for any company without "a plan to eliminate existing MTR operations in the foreseeable future." Continued financing of companies involved in MTR at all is not strong enough to be counted as a weak exclusion of coal mining companies.

See: Banking on Climate Change - policy scores

Total: 11 points out of 32

4 points for a moderate exclusion of coal mining projects: NAB prohibits financing for new thermal coal mining projects.

4 points for a weak phase-out commitment regarding coal mining companies: NAB commits to its thermal coal mining financing to be effectively zero by 2035.

3 points for a weak exclusion threshold for coal mining companies: NAB prohibits new thermal coal mining clients.

See: Banking on Climate Change - policy scores

Total: 30 points out of 32

6 points for a strong exclusion of coal mining projects: BPCE/Natixis prohibits financing for greenfield or brownfield thermal coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): BPCE/Natixis will no longer support companies that develop new capacity in coal-powered electricity generation or thermal coal mining.

8 points for a strong phase-out commitment regarding coal mining companies: BPCE/Natixis commits to fully withdraw from the thermal coal sector by 2030 for EU and OECD countries, and 2040 for the rest of the world. Companies must have provided or have ensured to provide by the end of 2021 a transition plan to fully withdrawal from thermal coal by 2030/2040.

8 points for a strong exclusion threshold for coal mining companies: BPCE/Natixis prohibits financing for companies whose activity is greater than 25% thermal coal mining (measured in revenues).

See: Banking on Climate Change - policy scores

Total: 20 points out of 32

4 points for a moderate exclusion of coal mining projects: RBS prohibits lending for new thermal coal mining projects.

8 points for a strong phase-out commitment regarding coal mining companies: RBS has committed to end financing for "companies where more than 15% of activities related to coal, unless they have a credible transition plan in line with the 2015 Paris Agreement by end of 2021" and complete a "full phase-out from coal by 2030." This applies to thermal and lignite coal mining and covers lending and underwriting.

8 points for a strong exclusion threshold for coal mining companies: RBS prohibits financing for "companies where more than 15% of activities related to coal, unless they have a credible transition plan in line with the 2015 Paris Agreement by end of 2021." This applies to thermal and lignite coal mining.

See: Banking on Climate Change - policy scores

Total: 2 points out of 32

2 points for a weak exclusion of coal mining projects: OCBC prohibits "new financing of Lignite Coal Mines" only.

See: Banking on Climate Change - policy scores

Total: 2 points out of 32

1.5 points for the commitment to reduce exposure to coal mining companies: PNC states that "over the last few years, we have gradually reduced our lending to coal mining companies."

0.5 point for enhanced due diligence regarding coal mining companies: PNC conducts enhanced due diligence for coal mining companies, and prohibits "new lending to coal producers with anything more than a de minimis exposure to mountaintop removal mining."

See: Banking on Climate Change - policy scores

Total: 8.5 points out of 32

4 points for a moderate exclusion of coal mining projects: RBC will not finance transactions where the proceeds will be primarily used to develop a new thermal coal mine or Mountain Top Removal coal mining projects.  

1.5 points for the commitment to reduce exposure to coal mining companies: RBC will track and monitor its credit exposure to coal mining and endeavor to reduce it over time. There is no specific deadline or timeline mentioned.

3 points for a weak exclusion threshold for coal mining companies: RBC will not provide financing to new clients that operate significant thermal coal mining (>60% revenue). RBC will provide financing to new clients that operate some thermal coal mining (≤ 60% revenue) if the client can provide clear evidence that they are reducing their use of coal (e.g. diversifying, retiring assets); and/or reducing their GHG emissions; and/or converting to high-efficiency low emissions technologies. There are no exclusions for existing clients. 

See: Banking on Climate Change - policy scores

Total: 7 points out of 32

4 points for a moderate exclusion of coal mining projects: Santander prohibits financing for new thermal coal mine projects.

3 points for a weak exclusion threshold for coal mining companies: Santander prohibits financing for "new clients with thermal coal mine projects worldwide." Exclusions that apply to new clients only are restricted to the "weak exclusion" category.

See: Banking on Climate Change - policy scores

Total: 0 points out of 32

See: Banking on Climate Change - policy scores

Total: 27 points out of 32

6 points for a strong exclusion of coal mining projects: Société Générale prohibits financing for all thermal coal mining projects.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): Société Générale will not finance new companies developing, or planning to develop, new thermal coal mines. From the end of 2021 onwards, Société Générale will refrain from financing any company developing, or planning to develop, new thermal coal mines. Société Générale will also refrain from financing 'Corporate Entities' of the thermal coal mining sector (which are defined as corporate entities directly operating or owning thermal coal mining assets) that are developing or planning to develop thermal coal mining capacity.

8 points for a strong phase-out commitment regarding coal mining companies: Société Générale has committed to zero out its exposure to the thermal coal sector by ''2030 for companies with mining or power production thermal coal assets located in the EU or OECD countries and 2040 companies holding such assets elsewhere."

5 points for a moderate exclusion threshold for coal mining companies: Société Générale will not finance new companies that are generating over 25% of their revenues in the thermal coal sector or that do not have a transition plan aligned with the 2030/2040 coal phase-out objectives of Société Générale. Furthermore, the bank will not provide new financial products and services to existing clients that generate over 25% of their revenues in thermal coal sector and do no have a time-bound transition plan to exit. From the end of 2021 onwards, the bank will not provide finance to any company that does not have a transition plan aligned with the 2030/2040 coal phase-out objectives of the bank.

See: Banking on Climate Change - policy scores

Total: 7.5 points out of 32

4 points for a moderate exclusion of coal mining projects: Standard Chartered prohibits financing for all new thermal coal mines.

3 points for the commitment to reduce financing of coal mining companies: Standard Chartered's coal phase-out plan includes a staged phase-out of coal companies, starting with those that are most involved with coal. By 2030, Standard Chartered will only support clients that are <10% dependent on earnings from thermal coal -- however this approach does not commit the bank to phasing out support for ALL companies dependent on thermal coal.

0.5 point for enhanced due diligence regarding coal mining companies: Standard Chartered conducts enhanced due diligence for coal mining companies. Standard Chartered also excludes financing for new clients that are 100% coal mining, but this is not a comprehensive enough exclusion on new clients to qualify for "weak exclusion."

See: Banking on Climate Change - policy scores

Total: 1 points out of 32

0.5 point for a mountaintop removal (MTR) mine exclusion: SMBC does not provide support for coal mining projects that are conducting the MTR method.

0.5 point for enhanced due diligence regarding coal mining companies: SMBC conducts enhanced due diligence for coal mining businesses when considering lending.

See: Banking on Climate Change - policy scores

Total: 1 point out of 32

0.5 point for a mountaintop removal (MTR) mine exclusion: TD prohibits financing for transactions related to mountaintop removal coal mining only.

0.5 point for enhanced due diligence regarding coal mining companies: TD conducts enhanced due diligence for the mining sector.

See: Banking on Climate Change - policy scores

Total: 8 points out of 32

2 points for a weak exclusion of coal mining projects: UBS prohibits financing for greenfield thermal coal mines.

3 points for the commitment to reduce financing of coal mining companies: UBS has committed to "continue to severely restrict lending and capital raising to the coal mining sector."

3 points for a weak exclusion threshold for coal mining companies: UBS prohibits financing for companies with any mountaintop removal coal mining operations.

See: Banking on Climate Change - policy scores

Total: 30 points out of 32

6 points for a strong exclusion of coal mining projects: UniCredit excludes all types of banking services aimed at a coal-related project activity, regardless of any other consideration. This includes finance for new coal mines, existing coal mines and the expansion of coal mines.

8 points for a strong exclusion of companies expanding coal mining (coal mine developers): UniCredit does not provide any financial services to coal-related subjects (defined as all the companies/subjects operating in coal-fired power generation area + the thermal coal mining area) that expand the coal business (e.g. by expanding existing coal capacity or buying/building new production sites).

8 points for a strong phase-out commitment: UniCredit is committed to reduce its exposure to the coal sector to zero by 2028 globally.

8 points for a strong exclusion threshold for coal mining companies: UniCredit will not provide any banking services to coal-related subjects (including subsidiaries) that get more than 25% of their current revenues in the coal business. From end 2021 onwards, companies also need to have a credible plan in place phasing out their coal business by 2028.

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 32

2 points for a weak exclusion of coal mining projects: UOB prohibits financing of greenfield thermal coal mines.

0.5 point for enhanced due diligence regarding coal mining companies: UOB has enhanced due diligence for the Metals and Mining sector.

See: Banking on Climate Change - policy scores

Total: 6 points out of 32

4 points for a moderate exclusion of coal mining projects: US Bank prohibits financing for new coal mines only.

1.5 points for the commitment to reduce exposure to coal mining companies: US Bank has committed to reduce its exposure to coal companies.

0.5 point for enhanced due diligence regarding coal mining companies: US Bank does not finance "coal producers who rely on MTR for anything more than a limited portion of its firm’s overall coal production." This is not strong enough to merit a "weak exclusion threshold," but does count as enhanced due diligence for coal mining.

See: Banking on Climate Change - policy scores

Total: 2.5 points out of 32

0.5 point for a mountaintop removal (MTR) mine exclusion: Wells Fargo prohibits direct financing of mountaintop removal coal mines.

1.5 points for the commitment to reduce exposure to coal mining companies: Wells Fargo has committed to continue reducing credit exposure to the coal mining industry.

0.5 point for enhanced due diligence regarding coal mining companies: Wells Fargo conducts enhanced due diligence for coal mining companies. In addition, Wells Fargo prohibits financing "to coal producers engaged primarily in MTR mining." Continued financing of companies involved in MTR at all is not strong enough to be counted as a weak exclusion of coal mining companies.

See: Banking on Climate Change - policy scores

Total: 6.5 points out of 32

2 points for a weak exclusion of coal mining projects: Westpac limits its support for thermal coal mines or projects to existing basins by maintaining the following quality criteria: average calorific value on a Gross As Received basis must be at least 5,700 kCal/kg for existing mines; and at least 6,300 kCal/kg Gross As Received for new mines.

1.5 points for the commitment to reduce exposure to coal mining companies: Westpac commits to reduce its exposure to coal customers to zero by 2030, whereby coal customers are defined as those companies generating more than 25% of revenues from thermal coal.

3 points for a weak exclusion threshold for coal mining companies: Westpac will not establish relationships with new thermal coal customers, with thermal coal customers defined as those generating more than 25% of revenues from thermal coal. Exclusions that apply to new clients only are restricted to the "weak exclusion" category.

See: Banking on Climate Change - policy scores

ABN AMRO prohibits direct finance for the acquisition or building of thermal coal mines, and mountaintop removal (MTR) coal mines.

ABN AMRO prohibits financing for companies with greater than 25% revenue from thermal coal mining. This is considered a strong company exclusion policy.

See: Banking on Climate Change - policy scores

ANZ will not directly finance any new thermal coal mines, or expansions. Existing coal mines can still receive finance.

ANZ's weak policy prohibits lending to new clients whose thermal coal assets exceed 10% of revenue, including coal mining companies.

See: Banking on Climate Change - policy scores

Barclays prohibits financing for greenfield coal mines and mountaintop-removal coal mines.

Barclays will not provide any financing to clients that generate more than 50% of revenue from thermal coal activities (mining and/or coal fired power generation).

See: Banking on Climate Change - policy scores

BBVA prohibits direct financing for new coal mines and coal mine expansions, including mountaintop removal (MTR) mines, but allows exceptions for countries with high levels of imported energy.

BBVA prohibits financing for companies that get more than 40% of their revenue from coal mining, but allows exceptions for countries with high levels of imported energy.

See: Banking on Climate Change - policy scores

BNP Paribas prohibits financing for thermal coal mining projects.

BNP Paribas does not provide any financial products or services to companies that develop or are planning to develop thermal coal extraction capacities (new mines or expansion of existing ones).

It does also not provide any financial products or services to mining entities that are producers of coal extracted from Appalachian MTR operations; and to mining entities and that do not have a strategy to exit from thermal coal activities by 2030 for EU and OECD countries and 2040 for the rest of the world. The bank does also not finance mining entities that belong to groups that: produce more than 10 million tons of thermal coal per year, or generate more than 20% of their revenues from thermal coal.

See: Banking on Climate Change - policy scores

CIBC will limit support for practices such as mountaintop removal mining of thermal coal.

Citigroup provides no project-related financing for new thermal coal mines or expansions of existing mines.

See: Banking on Climate Change - policy scores

Commerzbank prohibits direct finance for new coal mines and mountaintop removal (MTR) mines.

Commerzbank prohibits financing for all companies involved in mountaintop removal (MTR) coal mining.

See: Banking on Climate Change - policy scores

Crédit Agricole prohibits any support to thermal coal mines.

With regard to companies, Crédit Agricole prohibits financing to coal mine developers starting in 2021.

It also prohibits financing to coal mining companies above 25% of revenues coming from coal if they don't have a coal phase-out plan by 2021.

See: Banking on Climate Change - policy scores

Crédit Mutuel prohibits financing for greenfield or brownfield thermal coal mines.

Crédit Mutuel prohibits financing for all coal mine developers and it prohibits financing of companies with more than 20% of revenues from coal, or companies that produce more than 10 Mt of coal a year.

See: Banking on Climate Change - policy scores

Credit Suisse prohibits direct finance for new greenfield thermal coal mines, and mountaintop removal (MTR) projects.

Credit Suisse will not provide finance or underwriting to mining companies that derive more than 25% of its revenue from thermal coal extraction. However, they make an exception for companies that have a credible transition strategy to diversify away from thermal coal and where the transaction proceeds make a material contribution to this transition. 

See: Banking on Climate Change - policy scores

DBS prohibits financing for greenfield thermal coal mines.

See: Banking on Climate Change - policy scores

Deutsche Bank prohibits new financing for greenfield thermal coal mines.

See: Banking on Climate Change - policy scores

Goldman Sachs's prohibition on financing for "new thermal coal mine development" covers both new mines and expansions of existing mines.

See: Banking on Climate Change - policy scores

HSBC prohibits financing for new thermal coal mines.

HSBC prohibits financing for new clients dependent on coal mining.

See: Banking on Climate Change - policy scores

ING prohibits financing for new thermal coal mines.

ING excludes financing for companies above a 30% threshold involvement in coal mining, "provided our engagement does not facilitate the restricted activity itself." But the policy allows notable exceptions for application to existing clients.

See: Banking on Climate Change - policy scores

Intesa Sanpaolo will not provide finance for new coal mines. Intesa Sanpaolo also restricts project finance for the acquisition of companies already operating in the mining sector if this leads to mix of extracted raw materials where coal accounts for more than 50%.

Intesa Sanpaolo will not provide any new general purpose finance to companies engaged in the construction of new coal mines. It will also not provide any new general purpose finance to companies involved in coal mining operations using the Mountain Top Removal (MTR) techniques.

See: Banking on Climate Change - policy scores

JPMorgan Chase prohibits financing for new greenfield coal mines only.

JPMorgan Chase prohibits "lending, capital markets or advisory services to companies deriving the majority of their revenues from the extraction of coal." If this revenue threshold were lower than 50%, this policy would be eligible for "moderate exclusion."

See: Banking on Climate Change - policy scores

MUFG only prohibits financing for mountaintop removal (MTR) coal mining projects.

See: Banking on Climate Change - policy scores

Mizuho will not provide financing or investment to coal mining projects employing the mountain top removal method.

See: Banking on Climate Change - policy scores

Morgan Stanley excludes direct finance for new coal mines. Morgan Stanley will also not provide financing for mountain top removal coal mines.

See: Banking on Climate Change - policy scores

NAB prohibits financing for new thermal coal mining projects.

NAB prohibits new thermal coal mining clients.

See: Banking on Climate Change - policy scores

BPCE/Natixis prohibits financing for greenfield or brownfield thermal coal mines.

BPCE/Natixis does not support companies that develop new capacity in coal-powered electricity generation or thermal coal mining.

BPCE/Natixis also prohibits financing for companies whose activity is greater than 25% thermal coal mining (measured in revenues).

See: Banking on Climate Change - policy scores

RBS prohibits lending for new thermal coal mining projects.

RBS prohibits financing for "companies where more than 15% of activities related to coal, unless they have a credible transition plan in line with the 2015 Paris Agreement by end of 2021." This applies to thermal and lignite coal mining.

See: Banking on Climate Change - policy scores

OCBC prohibits "new financing of Lignite Coal Mines" only.

See: Banking on Climate Change - policy scores

RBC excludes finance for transactions where the proceeds will be primarily used to develop a new thermal coal mine or Mountain Top Removal coal mining projects.  

RBC will not provide financing to new clients that operate significant thermal coal mining (>60% revenue). RBC will provide financing to new clients that operate some thermal coal mining (≤ 60% revenue) if the client can provide clear evidence that they are reducing their use of coal (e.g. diversifying, retiring assets); and/or reducing their GHG emissions; and/or converting to high-efficiency low emissions technologies. There are no exclusions for existing clients. 

See: Banking on Climate Change - policy scores

Santander prohibits financing for new thermal coal mine projects.

Santander prohibits financing for "new clients with thermal coal mine projects worldwide."

See: Banking on Climate Change - policy scores

Société Générale prohibits financing for all thermal coal mining projects.

Société Générale will not finance new companies developing, or planning to develop, new thermal coal mines. From the end of 2021 onwards, Société Générale will refrain from financing any company developing, or planning to develop, new thermal coal mines. Société Générale will also refrain from financing 'Corporate Entities' of the thermal coal mining sector (which are defined as corporate entities directly operating or owning thermal coal mining assets) that are developing or planning to develop thermal coal mining capacity.

Société Générale will not finance new companies that are generating over 25% of their revenues in the thermal coal sector or that do not have a transition plan aligned with the 2030/2040 coal phase-out objectives of Société Générale. Furthermore, the bank will not provide new financial products and services to existing clients that generate over 25% of their revenues in thermal coal sector and do no have a time-bound transition plan to exit. From the end of 2021 onwards, the bank will not provide finance to any company that does not have a transition plan aligned with the 2030/2040 coal phase-out objectives of the bank.

See: Banking on Climate Change - policy scores

Standard Chartered prohibits financing for all new thermal coal mines.

See: Banking on Climate Change - policy scores

SMBC does not provide support for coal mining projects that use the mountaintop removal (MTR) method.

See: Banking on Climate Change - policy scores

TD prohibits financing for transactions related to mountaintop removal coal mining only.

See: Banking on Climate Change - policy scores

UBS prohibits financing for greenfield thermal coal mines.

UBS prohibits financing for companies with any mountaintop removal coal mining operations.

See: Banking on Climate Change - policy scores

UniCredit excludes all types of banking services aimed at a coal-related project activity, regardless of any other consideration. This includes finance for new coal mines, existing coal mines and the expansion of coal mines.

UniCredit does not provide any financial services to coal-related subjects (defined as all the companies/subjects operating in coal-fired power generation area + the thermal coal mining area) that expand the coal business (e.g. by expanding existing coal capacity or buying/building new production sites).

UniCredit will also not provide any banking services to coal-related subjects (including subsidiaries) that get more than 25% of their current revenues in the coal business. From end 2021 onwards, companies also need to have a credible plan in place phasing out their coal business by 2028.

See: Banking on Climate Change - policy scores

UOB prohibits financing of greenfield thermal coal mines.

See: Banking on Climate Change - policy scores

US Bank prohibits financing for new coal mines only.

See: Banking on Climate Change - policy scores

Wells Fargo prohibits direct financing of mountaintop removal coal mines.

See: Banking on Climate Change - policy scores

Westpac limits its support for thermal coal mines or projects to existing basins by maintaining the following quality criteria: average calorific value on a Gross As Received basis must be at least 5,700 kCal/kg for existing mines; and at least 6,300 kCal/kg Gross As Received for new mines.

Westpac prohibits lending to new thermal coal customers, with thermal coal customers defined as those generating more than 25% of revenues from thermal coal.

See: Banking on Climate Change - policy scores